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best way to move money from Singapore to UK
best way to move money from Singapore to UK
Hi, please can anyone help?
I have about 50k SGD in a Singapore bank account and I would like to transfer it to my UK bank account (having recently relocated). What's the best (i.e. cheapest and safest) way to do this?
Look forward to your replies!
I have about 50k SGD in a Singapore bank account and I would like to transfer it to my UK bank account (having recently relocated). What's the best (i.e. cheapest and safest) way to do this?
Look forward to your replies!
Re: best way to move money from Singapore to UK
Pass it to me, I'll sort it out for you;)chezdor wrote:Hi, please can anyone help?
The grass is greener on the other side.
Re: best way to move money from Singapore to UK
Well the best way means different things. Lowest cost? Most convenient? Best option given you're in the UK now and didn't plan ahead so you can't do either of the above?chezdor wrote:Hi, please can anyone help?
I have about 50k SGD in a Singapore bank account and I would like to transfer it to my UK bank account (having recently relocated). What's the best (i.e. cheapest and safest) way to do this?
Look forward to your replies!

Your only option is likely an online wire transfer. Hope you still have your 2FA token. If it's in a Citibank, you can also just do their 'global transfer' in increments of 5 or 10k per day. Instant and no-fee, but the exchange rate isn't too great anymore with Citi.
Re: best way to move money from Singapore to UK
Take cash from SG bank accountchezdor wrote:Hi, please can anyone help?
I have about 50k SGD in a Singapore bank account and I would like to transfer it to my UK bank account (having recently relocated). What's the best (i.e. cheapest and safest) way to do this?
Look forward to your replies!
Go to The Arcade.
Change to Sterling cash
Declare it at Changi (they want to know, but assuming it's legit that's fine)
Deposit back in the UK.
p.s. other methods, wires etc, the rates and fees will scalp perhaps 2.5-4% off.
p.s Congrats on your 1st post in 2 years.
I'd imagine the Royal Postal Service would suspect something is up and confiscate them, making it quite the hassle.PNGMK wrote:Post 1000 x GBP50 pound bills to an address in the UK - one 50 bill per envelope.
total cost is SGD1100 for postage plus $45 for envelopes.
Remember guys, he's already in the UK looking to move that money.
OP can buy Emirates return ticket from LHR to SIN for under S$1100, about the price of postage PNGMK suggested.
I just move a similar sum from the US to SG via Citibank, and it was a US$30 wire fee plus about 2.5% lost on the conversion. So the flight in and out will be cheaper if the OP doesn't mind the time it will take. Can even stay in Hotel 81 to keep costs low.
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Re: best way to move money from Singapore to UK
Perhaps he found the board to be the repository of information we claim it to be and found all his answers without the need to post. So, not being the social type, hasn't filled up the board with garbage like we do, just keeping the reference until such time as he needed it?JR8 wrote:
p.s Congrats on your 1st post in 2 years.


SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers
chezdor, you might want to have a look at https://www.currencyfair.com/. I've not used them myself, but I've read good reviews about them. AFAIK, you can't open an account from Singapore, but now you're in the UK you should be able to do so and make SGD -> GBP transfers at favourable rates.
I believe that the way these guys work is that you can either use their bog standard rates (which seem to be competitive), or you can offer your 50k SGD up for a 'peer to peer' swap for GBP if you're willing to wait for someone who wants to do a swap in the other direction. That way you'd get an even better rate (in theory) - probably not worth the hassle for small amounts, but for 50k it might make a significant difference. Either way, I gather the transaction fees are significantly lower than what the banks charge.
I believe that the way these guys work is that you can either use their bog standard rates (which seem to be competitive), or you can offer your 50k SGD up for a 'peer to peer' swap for GBP if you're willing to wait for someone who wants to do a swap in the other direction. That way you'd get an even better rate (in theory) - probably not worth the hassle for small amounts, but for 50k it might make a significant difference. Either way, I gather the transaction fees are significantly lower than what the banks charge.
Be careful what you wish for
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